Ellex Latvia has advised Silverlake Axis Ltd on the acquisition of 80% of the equity interest in SIA X Infotech Group. Deloitte Legal advised Novaltisco Investments Limited, a shareholder of SIA X Infotech Group, on the sale.
According to Ellex, “this acquisition brings together complementary product portfolios, business strategies, and expands geographical presence to allow both entities to better support existing customer bases and pursue new customers.”
Silverlake Axis Ltd is a provider of digital economy solutions and services to organizations in banking, insurance, payments, retail, and logistics industries.
SIA X Infotech provides software solutions for issuance and verification of electronic identity documents. The company is headquartered in Latvia with subsidiaries in Latvia and Kenya.
The Ellex team consisted of Senior Partner Raimonds Slaidins, Associate Partner Irina Kostina, Senior Associates Reinis Sokolovs, Andris Lazdins, and Edvijs Zandars, and Associate Kaspars Olsevskis.
The Deloitte Legal team consisted of Partner Maris Liguts, Managing Associate Ivita Samlaja, and lawyer Santa Dzenite.